Cloud & Data Transformation in Banking Summit

February 17-18, 2022 | USA

Cloud_and_Data
As the world is moving towards an Open banking and API Banking, there is a significant /paradigm shift towards Cloud & Data Transformation in the banking & financial sector. Cloud has become the preferred way to manage, store and transfer data because of its convenience, unmatched scale and economic advantage. It has provided an opportunity for the banking sector to access unlimited amount of customer financial data from anywhere, and interpret this Data to identify newer opportunities and harness it to harness the full potential. With the rise of mobile banking, fintech and virtual transaction services relevance of Cloud and Data Transformation has gained more momentum. Banks are switching from their age-old legacy systems to more robust, efficient and modernized platforms and investing heavily in digital technologies including cloud computing, Data governance, AI, Automation, Big Data, IoT that can help create a hospitable environment for growth and opportunity by keeping risk at bay. Despite the regulatory challenges, banks have recognized the importance of digital developments and are working intensively on potential solutions and strategies.

Spotlight

In addition to your regular income tax, you may be liable for the alternative minimum tax. You may be able to claim a foreign tax credit for this tax. However, there are restrictions on how much foreign tax credit taxpayers can apply to the alternative minimum tax. You may have to report certain information with your return if you claim a foreign tax credit under a treaty provision. For example, if a treaty provision allows you to take a foreign tax credit for a specific tax that is not allowed by the Internal Revenue Code, you must report this information with your return. To report the necessary information.


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In addition to your regular income tax, you may be liable for the alternative minimum tax. You may be able to claim a foreign tax credit for this tax. However, there are restrictions on how much foreign tax credit taxpayers can apply to the alternative minimum tax. You may have to report certain information with your return if you claim a foreign tax credit under a treaty provision. For example, if a treaty provision allows you to take a foreign tax credit for a specific tax that is not allowed by the Internal Revenue Code, you must report this information with your return. To report the necessary information.

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